Paramount may leave California, says: ‘You go where you are wanted’
The legal chief at Paramount Skydance has raised concerns of a possible exit from California amid ongoing antitrust challenges. The company is fighting a lawsuit against its plans to acquire Warner Bros. Discovery, arguing the merger will adversely affect market competition. They also contend that this legal battle poses a risk to employment and the state's economic health, consequently…
Paramount Skydance CEO David Ellison remains committed to California, but suggests the company may consider relocating due to increasing antitrust scrutiny from the state government. Speaking at Politico’s The California Agenda: Sacramento Summit, Chief Legal Officer Makan Delrahim emphasized that Paramount has a fiduciary duty to its shareholders.
"You have to take a look at the business environment and look to see what’s best for not only the community and the business. And ultimately, you know, go to the place where you’re wanted," Delrahim stated. The California Attorney General and 11 other states have filed a lawsuit against Paramount’s proposed $68 billion merger with Warner Bros.
Discovery, claiming it would give Paramount too much power in media and harm competition. The trial is set for next spring. Democrats and media watchdogs have criticized the merger, fearing Warner Bros. Discovery’s CNN may become too closely tied to CEO David Ellison, who is an ally of President Trump and the son of Oracle founder Larry Ellison.
Delrahim argued the lawsuit is detrimental to employment, stating "This merger is actually going to be good — not only for California — it’ll be good for America." Despite mixed earnings results in the second quarter, with revenue rising 1% year-over-year but profit falling short, Paramount maintains that its financial obligations may ultimately force it to move if California continues to oppose the merger.
Written by urgent.news from Times of India's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
